APRA lets int only loans go uncapped

The APRA interest-only lending earthquake yesterday eases credit conditions, but won’t much soften the heavy landing in housing prices across eastern Australia.Limits continue to apply to interest-only lending. APRA will spell these out bank by bank. read more

Judo snubs ABA

Judo Capital is the latest banking aspirant pledging to steer clear of the Australian Banking Association, with the lender’s most senior executives saying they want nothing to do with the industry peak body. read more

Caged Xinja stages debut

Digital startup Xinja is now officially a bank after securing a restricted banking licence from the Australian Prudential Regulation Authority. read more

Aussie banks' profits smashed by RBNZ

A haircut for Australian bank profits - but the collapse of bank profitability in New Zealand. That’s the take of Andrew Lyons, Ashley Dalziell and Desmond Tsao in a commentary from Goldman Sachs Australia yesterday on the Reserve Bank of NZ’s capital proposals. Lyons and co estimated New Zealand banks’ average ROE of 15 per cent in FY18 would fall by 5 per cent. read more